Articles by Yonhap
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S. Korea to update unification vision for 1st time in 30 years
The government of President Yoon Suk Yeol plans to draw up a new vision for unification with North Korea to include the principle of liberal democracy, a presidential official said Friday. It will mark the first revision to the National Community Unification Formula, South Korea's unification policy unveiled in August 1994 under the administration of late President Kim Young-sam. "The National Community Unification Formula, which has served as the official unification plan of our gover
Social Affairs March 1, 2024
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N.K. again close to bottom in global freedom index: report
North Korea was again assessed as one of the most repressive countries in the world in an annual report by the US-based freedom watchdog, receiving only three out of 100 points on the freedom index. In the report, titled "Freedom in the World 2024," published by Freedom House, North Korea was given zero points out of 40 in terms of political rights and 3 points out of 60 in terms of civil liberties. The only countries behind the North in the index were Syria with 1 point, South Sudan w
North Korea March 1, 2024
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Cooperation among N. Korea, Russia, China, Iran raises possibility of 'simultaneous conflicts': US general
WASHINGTON, -- Growing military cooperation among North Korea, Russia, China and Iran raises the possibility of "simultaneous conflicts with multiple nuclear-armed adversaries," a top US general warned Thursday. Gen. Anthony Cotton, commander of US Strategic Command, made the remarks during a session of the Senate Armed Services Committee, stressing that his command will "always" be "ready to fight tonight." "We are confronting not one, but two nuclear peers
Foreign Affairs March 1, 2024
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S. Korea, US voice 'deep concern' over NK's definition of S. Korea as 'hostile' country
WASHINGTON -- South Korea and the United States expressed "deep concerns" Thursday over North Korea's definition of the inter-Korean relationship as one between two hostile states and its potential attempt at changing the status quo in the Yellow Sea, Seoul's foreign ministry said. Their position was announced in a statement after Foreign Minister Cho Tae-yul and US Deputy Secretary of State Kurt Campbell had a breakfast meeting in Washington. The previous day, Cho held his firs
Foreign Affairs March 1, 2024
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Ex-judge, ex-prosecutor recommended as anti-corruption agency chief
A former veteran judge and a former prosecutor have been recommended as candidates for the head of the anti-corruption agency, a nomination committee said Thursday. Oh Dong-woon, a former judge at the Seoul High Court, and Lee Myong-sun, who served as the chief prosecutor at the Anyang Branch of the Suwon District Prosecutors' Office, were tapped as the nominees for Chief Prosecutor of the Corruption Investigation Office for High-ranking Officials, according to the committee. With the nomin
Politics Feb. 29, 2024
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2 special probe bills, including one involving first lady, scrapped in revote after Yoon's veto
Two opposition-led special investigation proposals, one of which involves allegations against first lady Kim Keon Hee, were scrapped Thursday in a revote after President Yoon Suk Yeol vetoed them last month. The results have widely been expected as two-thirds support is required for vetoed bills to pass through the Assembly again, and the ruling People Power Party (PPP), which is against the measures, holds 113 seats in the 297-member parliament. The bills, which the main opposition Democratic P
Politics Feb. 29, 2024
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Seoul shares close lower ahead of key US inflation data, holiday
South Korean stocks closed lower Thursday as investors sat on the sidelines ahead of the release of some key US inflation data and the holiday this week. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index shed 9.93 points, or 0.37 percent, to 2,642.36. Trade volume was moderate at 484 million shares worth 12.5 trillion won (US$9.44 billion), with losers outpacing gainers 545 to 341. Institutions were net sellers by offloading 507.3 billion won, while
Market Feb. 29, 2024
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White House refuses to comment on whether S. Korea should send artillery shells to Ukraine
The White House declined Wednesday to comment on whether South Korea should provide 155-mm artillery shells to help Ukraine defend against Russian attacks, saying it is a military decision for Seoul to speak to. During a press briefing, Press Secretary Karine Jean-Pierre made the remarks, expressing America's gratitude for the Asian ally's continued support for the war-torn country. "I am going to let South Korea speak to their own military decisions and their bilateral relations,
Foreign Affairs Feb. 29, 2024
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S. Korea's ODA budget set at record high of W6.3tr in 2024
The government set this year's budget for official development assistance at a record high of 6.3 trillion won ($4.7 billion) Thursday in line with efforts to take full responsibility and play a leading role as a global leader. The decision was made during a meeting of the government committee on official development assistance presided over by Prime Minister Han Duck-soo. This year's budget represents a 31.1 percent increase from the previous year. "The Yoon Suk Yeol administrati
Politics Feb. 29, 2024
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Interior minister renews calls for trainee doctors to return to work
Interior Minister Lee Sang-min renewed calls for trainee doctors to return to work Thursday as the government-set deadline is set to expire later in the day for their return from a walkout protesting the government's medical school quota hike plan. The government has given thousands of interns and resident doctors across the nation until the end of Thursday to return to their hospitals or face punitive action, such as the suspension of their medical licenses. Since Tuesday last week, the trainee
Politics Feb. 29, 2024
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Inflation to bounce back to over 3% in February: finance ministry
Inflation could rise over 3 percent in South Korea in February on high prices of global oil and fresh food items, the finance ministry said Thursday, vowing all-out efforts to curb inflation. In January, consumer prices, a key gauge of inflation, rose 2.8 percent on-year, marking the first fall below the 3 percent level in six months. The country has experienced a gradual easing of inflationary pressure, but uncertainties have grown, centering on prices of farm produce and petroleum products, Fi
Economy Feb. 29, 2024
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Seoul shares open lower tracking Wall Street losses
South Korean stocks started lower Thursday tracking overnight losses from Wall Street, as the US' fourth-quarter economic growth was slower than earlier estimated. The benchmark Korea Composite Stock Price Index fell 20.49 points, or 0.77 percent, to 2,631.8 in the first 15 minutes of trading. Overnight, the US stock market closed weaker, with the Dow Jones Industrial Average falling 0.06 percent and the tech-heavy Nasdaq Composite losing 0.55 percent. The US economy expanded 3.2 percent in
Market Feb. 29, 2024
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N. Korea wants Trump's reelection, will raise tensions until presidential vote: ex-German envoy
North Korea hopes for former President Donald Trump's win in the Nov. 5 US presidential election and will continue to raise tensions with Seoul and Washington until the election, a former German ambassador to Pyongyang said in a media contribution published Wednesday. Thomas Schafer made the case in a piece written to NPR, saying that Pyongyang would want to give negotiations with Trump "another try" in the event of his reelection, although a nuclear parley between him and North K
North Korea Feb. 29, 2024
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Seoul shares end over 1% higher ahead of key US data
South Korean stocks ended higher Wednesday as investors closely awaited key data from the United States later this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 27.24 points, or 1.04 percent, to 2,652.29. Trade volume was moderate at 409.7 million shares worth 10 trillion won ($7.4 billion), with gainers outpacing losers 559 to 302. Individuals were net sellers by offloading 539.2 billion won, while foreigners scooped up a net 458 bill
Market Feb. 28, 2024
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S. Korea cuts over 10,000 employees at state-run institutions in 2023
The government cut more than 10,000 workers from state-run companies in 2023 as part of efforts to reform and innovate the management of public firms, the finance ministry said Wednesday. Public companies let go of a combined 11,374 workers last year through organization restructuring, voluntary retirement and various other programs, which surpassed the government's target of shedding 11,072 employees that year, according to the Ministry of Economy and Finance. State-run firms also sold 409
Social Affairs Feb. 28, 2024
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